Commercial banks boosted their ABS holdings during the first quarter, with much of the gain coming in paper backed by auto loans. TD Bank added $2.2 billion of auto deals to remain the top bank ABS investor. (Includes two data charts.)
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Not since the go-go days of the mid 2000s has a national subprime REIT pulled off an IPO. If Angel Oak’s offering goes well, might the floodgates open? Wall Street can only hope.
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The special servicing rate for loans backing commercial MBS declined for the seventh consecutive month in April, with the hard-hit lodging sector showing the most improvement.
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Nonagency veteran Dan Perl is back in the hunt after a brief flirtation with retirement. He’s working on a nonprime conduit and a whole lot more.
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Demand has been booming for single-family rental properties over the past year. Amherst Residential saw an 85% year-over-year increase in applications for rental homes.
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As the FHFA cracks down on investor-loan volume, opportunities are being created anew. Also, FHFA, apparently, is losing sleep over GSE CMBS. (That’s correct.)
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